HSBC Medium Term Fund

Medium DurationDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

HSBC Medium Term Fund is a Medium Duration fund run by HSBC Mutual Fund. On 31-08-2026, it managed ₹684 Cr of investors' money. In the 3 years to 30-10-2026, its Direct plan returned 7.5% a year and its Regular plan returned 6.8% a year. Its benchmark, NIFTY Medium Duration Debt Index A-III, returned 6.4% a year over the same 3 years.

NAV (Direct plan): ₹23.78; ▼ 0.04%30-10-2026
NAV (Regular plan): ₹21.60; ▼ 0.04%30-10-2026
Expense ratio: 0.41%Direct1.12%Regular; 0.41%; A year
Riskometer: Moderately High; Set by the fund house
3 year return: 7.5%Direct6.8%Regular; 7.5%; A year

HSBC Medium Term Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹23.78 (down 0.04% that day); Regular Plan Growth ₹21.60 (down 0.04% that day).

This fund (Direct plan)

₹23.7823

HSBC Medium Term Fund Returns vs NIFTY Medium Duration Debt Index A-III

Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	−0.30%	−0.25%	+2.20%	+4.26%	+7.50%	--	--
This fund (Regular)	−0.35%	−0.43%	+1.84%	+3.55%	+6.76%	--	--
NIFTY Medium Duration Debt Index A-III	−0.45%	−0.64%	+1.96%	+2.80%	+6.40%	+5.32%	--
Medium Duration average	−0.34%	−0.09%	+2.51%	+4.72%	+7.66%	--	--
Best in Medium Duration	+0.04%	+0.68%	+3.33%	+7.48%	+10.39%	--	--
Worst in Medium Duration	−0.61%	−1.06%	+1.34%	+2.45%	+5.74%	--	--
Rank in Medium Duration	6/13	9/13	9/13	9/13	7/13	--	--

Category rows compare the Direct plans of 13 Medium Duration funds. Rank 1 is the highest return. The benchmark row is as on 30-09-2026, as NSE published it.

HSBC Medium Term Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular
2026to date	+3.33%	+2.73%
2025	+8.57%	+7.85%
2024	+8.99%	+8.22%
2023	+7.72%	+6.98%

HSBC Medium Term Fund Rolling Returns

The return of every holding period in the fund's history, not only the one that ends today

Rolling returns

Each point is the yearly return of one 3-year holding period, plotted on the day it ended. There are 222 periods, one for each trading day from 28-11-2025 to 30-10-2026.

0%2%4%6%8%10%

Dec 2022
to
Dec 2025Feb 2023
to
Feb 2026Apr 2023
to
Apr 2026Jun 2023
to
Jun 2026Aug 2023
to
Aug 2026Oct 2023
to
Oct 2026

HSBC Medium Term Fund (Direct)Category average, 13 Medium Duration funds

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	708	8.4%	4.0%	11.1%	0%	8.4%	44%
2 years	466	8.5%	6.5%	9.3%	0%	8.5%	48%
3 years	222	8.0%	7.5%	8.5%	0%	8.0%	57%

Period	Periods	Median	Lowest	Highest	With a loss	Category median	Beat category
1 year	36	8.2%	4.3%	11.7%	0%	8.0%	44%
2 years	24	8.5%	5.9%	10.3%	0%	8.5%	38%

Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat category" counts the periods in which the fund did better than the average of the 13 Medium Duration funds (Direct plans, each weighted the same) over the same days. Past returns do not promise future returns.

HSBC Medium Term Fund Risk

How much it swings, and the falls an investor had to sit through

Risk and return

Measure	HSBC Medium Term Fund (Direct)This fund	Category average
Return (CAGR)	+4.26%	+4.71%
Standard deviation	1.39%	1.39%
Sharpe ratio	-0.71	-0.38
Sortino ratio	-0.94	-0.54
Maximum drawdown	−0.97% (23-10-2026)	−0.87% (23-10-2026)

From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls.

Measure	HSBC Medium Term Fund (Direct)This fund	Category average
Return (CAGR)	+7.50%	+7.66%
Standard deviation	1.23%	1.18%
Sharpe ratio	1.20	1.39
Sortino ratio	1.76	2.08
Maximum drawdown	−0.97% (23-10-2026)	−0.87% (23-10-2026)

From daily NAVs, 30-10-2023 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls.

Measure	HSBC Medium Term Fund (Direct)This fund	Category average
Return (CAGR)	+7.40%	+7.41%
Standard deviation	1.19%	1.14%
Sharpe ratio	1.04	1.09
Sortino ratio	1.52	1.62
Maximum drawdown	−0.97% (23-10-2026)	−0.87% (23-10-2026)

From daily NAVs, 28-11-2022 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls.

Drawdowns

How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.

−1%−0.8%−0.6%−0.4%−0.2%0%

2023202420252026

HSBC Medium Term Fund (Direct)Category average, 13 Medium Duration funds

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
HSBC Medium Term Fund (Direct)	−0.97%	14-08-2026	23-10-2026	Not yet	--	−0.75%
Category average	−0.87%	14-08-2026	23-10-2026	Not yet	--	−0.70%

From the Direct plan's daily NAV since 28-11-2022, adjusted for unit splits, and the average of the 13 Medium Duration funds (Direct plans, each weighted the same) over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

HSBC Medium Term Fund vs Other Medium Duration Funds

The five Medium Duration funds with the best three year return, and this fund. Direct plans.

Fund name	Rank	AUM (Cr)	Exp. ratio	1Y return	3Y return	3Y alpha	3Y beta	3Y Sharpe	3Y Sortino
Aditya Birla Sun Life Medium Term Fund	1/13	3,370	0.83%	+7.48%	+10.39%	--	--	1.90	5.02	Compare
Kotak Medium Term Fund	2/13	1,912	0.67%	+5.09%	+8.61%	--	--	1.80	2.67	Compare
Nippon India Medium Term Fund	3/13	146	0.50%	+4.94%	+8.23%	--	--	1.27	2.89	Compare
Axis Medium Term Fund	4/13	1,972	0.71%	+5.40%	+8.16%	--	--	1.81	2.72	Compare
ICICI Prudential Medium Term Fund	4/13	5,331	0.73%	+5.75%	+8.16%	--	--	1.74	2.56	Compare
HSBC Medium Term Fund	7/13	684	0.41%	+4.26%	+7.50%	--	--	1.20	1.76

AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

HSBC Medium Term Fund Expense Ratio and Costs

What each plan charges a year, in force from 01-09-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Medium Duration median	Cost rank (1 = cheapest)
Direct	0.34%	0.01%	0.00%	0.06%	0.41%	0.70%	2/13
Regular	0.94%	0.01%	0.00%	0.17%	1.12%	1.32%	3/13

The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Medium Duration funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

Direct vs Regular: what the gap cost

Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

Over the last	Regular	Direct	Direct earned more by	₹1 lakh became (Regular)	₹1 lakh became (Direct)
1 year	3.55%	4.26%	0.71%	₹1,03,550	₹1,04,260
3 years	6.76%	7.50%	0.74% a year	₹1,21,682	₹1,24,230

Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

HSBC Medium Term Fund SIP Calculator

What a one-time or monthly investment in this fund would be worth today, from its own NAV history

Growth of an investment

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 28-11-2022 to 30-10-2026: 48 instalments, ₹4,80,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planHSBC Medium Term Fund (Direct)	₹4,80,000	₹5,49,938	₹69,938	6.8%
Regular planHSBC Medium Term Fund (Regular)	₹4,80,000	₹5,41,931	₹61,931	6.0%
Category averageCategory average, 13 Medium Duration funds	₹4,80,000	₹5,52,153	₹72,153	7.0%

₹0₹2.0 L₹4.0 L₹6.0 L

2023202420252026

Direct planHSBC Medium Term Fund (Direct)Regular planHSBC Medium Term Fund (Regular)Category averageCategory average, 13 Medium Duration fundsAmount invested

From each plan's published NAV (Growth option) and the category average, over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.

HSBC Medium Term Fund Asset Allocation

Asset allocation as on 31-08-2026

What the fund holds

98.5%Debt

Asset	Fund	Category
Debt	98.5%	82.7%
Cash and others	1.5%	17.3%

Credit rating

Bonds and money market papers by credit rating, % of the fund. Category: the average of 13 Medium Duration funds.

Rating	Fund	Category
Sovereign	26.1%	23.6%
AAA and A1+	39.0%	26.1%
AA	33.4%	30.9%

HSBC Medium Term Fund Portfolio Holdings

As on 31-08-2026 · 30 holdings · from the fund house's monthly portfolio

Holdings	Rating	Weight%
6.94% GOI 11-May-2036 · Government security	SOVEREIGN	17.90%
Delhi International Airport Limited · Bond	ICRA AA	4.53%
Aditya Birla Renewables Limited · Bond	CRISIL AA	3.96%
JTPM Metal Traders · Bond	CRISIL AA	3.94%
SIDBI · Bond	CRISIL AAA	3.90%
JSW Kalinga Steel Ltd · Bond	CRISIL AA	3.78%
Indian Railway Finance Corporation Ltd · Bond	CARE AAA	3.76%
Indian Railway Finance Corporation Ltd · Bond	CRISIL AAA	3.76%
360 ONE Prime Limited · Bond	ICRA AA	3.74%
Housing and Urban Development Corp. Ltd. · Bond	ICRA AAA	3.66%
NABARD · Bond	CRISIL AAA	3.66%
Aditya Birla Digital Fashion Venture Ltd · Bond	CRISIL AA-	3.65%
6.36% GOI 16-Feb-2031 · Government security	SOVEREIGN	3.63%
REC Limited · Bond	ICRA AAA	3.63%
REC Limited · Bond	CRISIL AAA	3.63%
Siddhivinayak Securitisation Trust	CRISIL AAA(SO)	3.62%
7.24% GOI 18-Aug-2055 · Government security	SOVEREIGN	3.53%
Motilal Oswal Finvest Ltd. · Bond	CRISIL AA+	3.19%
MAS Financial Services Limited · Bond	CARE AA-	2.97%
LIC Housing Finance Limited · Bond	CRISIL AAA	2.34%
SIDBI · Bond	CRISIL AAA	2.31%
Dhruva XXIV	ICRA AAA(SO)	1.67%
Indostar Capital Finance Limited · Bond	CARE AA-	1.51%
Cube Highway Trust · Bond	ICRA AAA	1.47%
ARIEL TRUST 2026	IND AA+(SO)	1.36%
6.48% GOI 06Oct2035 · Government security	SOVEREIGN	1.09%
Embassy Office Parks REIT · Bond	CRISIL AAA	0.89%
Indostar Capital Finance Limited · Bond	CARE AA-	0.75%
Vajra 011 Trust	ICRA AAA(SO)	0.71%
Corp Debt Mkt Devlop Fund (SBI AIF Fund)	AIF	0.35%

HSBC Medium Term Fund Portfolio Overlap

Funds with the most similar portfolios, across every fund house and category

Fund	Overlap	Holdings in common
HSBC Credit Risk FundCredit Risk · HSBC	28.7%	13	Compare
SBI Medium to Long Term FundMedium to Long Duration · SBI	24.6%	7	Compare
PGIM India Gilt FundGilt · PGIM India	22.5%	3	Compare
SBI Dynamic Term FundDynamic Bond · SBI	22.4%	4	Compare
JM Medium to Long Term FundMedium to Long Duration · JM Financial	21.9%	3	Compare
Mirae Asset Dynamic Term FundDynamic Bond · Mirae Asset	21.8%	3	Compare
Canara Robeco Dynamic Term FundDynamic Bond · Canara Robeco	21.8%	3	Compare
Canara Robeco Medium to Long Term FundMedium to Long Duration · Canara Robeco	21.8%	3	Compare

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

HSBC Medium Term Fund Overview

Fund facts from the scheme summary document, as on 16-10-2026

Expense ratio (Direct): 0.41%
Expense ratio (Regular): 1.12%
Category: Medium Duration
Risk: Moderately High
Benchmark: NIFTY Medium Duration Debt Index A-III
Launch date: 02-02-2015
Minimum investment: ₹5,000
Minimum additional investment: ₹1,000
AUM: ₹683.93 Cr (31-08-2026)
Lock in: None
Scheme code (Direct): 151146
ISIN (Direct): INF917K01TK4
Scheme code (Regular): 151149
ISIN (Regular): INF917K01TH0
NAV history: From 28-11-2022, 3.9 years

Exit load: Nil

Tax on HSBC Medium Term Fund returns

HSBC Medium Term Fund is taxed as a debt fund: 65% or more of it is in bonds and money market papers.
For units bought on or after 01-04-2023, the gain is added to your income and taxed at your slab rate, however long you hold the units.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.

Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

All plans and options

Plan	Option	NAV	As on
direct	Growth	₹23.7823	30-10-2026
direct	Annual IDCW	₹11.6541	30-10-2026
direct	IDCW	₹11.2964	30-10-2026
regular	Growth	₹21.598	30-10-2026
regular	Annual IDCW	₹10.5386	30-10-2026
regular	IDCW	₹10.4582	30-10-2026

About HSBC Medium Term Fund

HSBC Medium Term Fund is a mutual fund from HSBC Mutual Fund. Its category is Medium Duration. It was launched on 02-02-2015. Its benchmark is NIFTY Medium Duration Debt Index A-III. At the end of August 2026 it held 30 securities.

Fund Manager

Shriram Ramanathan
Fund manager of HSBC Medium Term Fund, since 02-02-2015

See all funds of HSBC Mutual Fund

AUM change

August 2026: ₹683.93 Cr; −0.42% from July 2026
July 2026: ₹686.84 Cr; −0.96% from June 2026
June 2026: ₹693.49 Cr; −0.74% from May 2026

AUM moves with money invested or taken out, and with the value of what the fund holds.

Compare HSBC Medium Term Fund with Other Funds

Returns, risk, costs and the stocks they share, side by side

HSBC Medium Term vs Aditya Birla Sun Life Medium TermMedium Duration
HSBC Medium Term vs Kotak Medium TermMedium Duration
HSBC Medium Term vs Nippon India Medium TermMedium Duration
HSBC Medium Term vs Axis Medium TermMedium Duration
HSBC Medium Term vs ICICI Prudential Medium TermMedium Duration
HSBC Medium Term vs HSBC Credit Risk28.7% overlap
HSBC Medium Term vs SBI Medium to Long Term24.6% overlap
HSBC Medium Term vs PGIM India Gilt22.5% overlap

Compare with any other fund

Frequently Asked Questions for HSBC Medium Term Fund

What is the current NAV of HSBC Medium Term Fund?

The Direct plan NAV is ₹23.7823. The Regular plan NAV is ₹21.598, as on 30-10-2026.

What are the returns of HSBC Medium Term Fund?

The Direct plan returned +4.26% in 1 year, +7.50% a year over 3 years. The Regular plan returned +3.55% in 1 year, +6.76% a year over 3 years. These figures are as on 30-10-2026.

What is the expense ratio of HSBC Medium Term Fund?

The Direct plan charges 0.41% a year. The Regular plan charges 1.12% a year. This is the figure the fund house reported to AMFI, in force from 01-09-2026.

What is the AUM of HSBC Medium Term Fund?

HSBC Medium Term Fund managed ₹683.93 Cr on 31-08-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of HSBC Medium Term Fund?

At the end of August 2026 the largest holdings were 6.94% GOI 11-May-2036 (17.90%), Delhi International Airport Limited (4.53%), Aditya Birla Renewables Limited (3.96%), JTPM Metal Traders (3.94%), SIDBI (3.90%). The fund held 30 securities in all.

How do I invest in HSBC Medium Term Fund?

Through HSBC Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least ₹5,000. You can invest once or through a monthly SIP.

Who is the fund manager of HSBC Medium Term Fund?

Shriram Ramanathan (since 02-02-2015).

What is the exit load of HSBC Medium Term Fund?

Nil

Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.